Strapp takes on BT New Zealand

BT Australiachief investment officer Guy Strapp is taking on the additional responsibilities of acting chief investment officer for BT New Zealand (BTNZ) following the resignations of former BTNZ chief executive Craig Stobo and chief investment officer Andrew South.

Until a replacement chief investment officer is named, Strapp is charged with providing an investment management overview and support to the BTNZ investment team, and will be encouraging its trans-Tasman subisidary to leverage off the resources of the Australian investment team.

Former BTNZ chief operating officer Mike Newton has stepped back into the helm of the business, but only on a temporary basis, he says.

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Newton, who left BT last year to establish his own asset management business, says he has no intention of taking on the job on a full time basis, and that he will continue his work at Select for the duration of the short contract with BT.

Stobo says his resignation, after 14 years with the group, is not in order to take up another position, but to pursue other ideas as it was time for a change.

Stobo took over as head of BT Funds Management (NZ) in September 2000, following the departure of then chief executive, Myles Baron-Hay.

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